It is forecast that it is necessary to focus
on offline market in order to attract more than 100 million Chinese youth
consumers.

According
to a report titled "Characteristics and Implications of China’s Young
Consumer Market" issued by the Chengdu branch of the Korea International
Trade Association (Chairman, Kim Young-joo) on December 21st, the
population of 00 hou (born in 2000s) is 280 million as of 2016, accounting for
20 percent of China’s total population and their average bank account balance
is 1,840 yuan, nearly double the 90 hou (born in the 1990s).

As
the Chinese economy grows, the parents of 00 hou generation are spending
generous amount of money on their children. According to a study conducted by
Chinese researcher iResearch on Chinese teenagers aged 12 to 18, 60 percent of
respondents received regular pocket money from their guardians and the average
monthly allowance was 370 yuan.

81.7
percent of the respondents preferred to purchase products offline rather than
online and prefer tangible products over abstract services. The most purchased
offline products were school supplies including study books (82.8%), followed
by 'snacks and drinks' (71.2%), and 'clothes and accessories' (30.0%). 36.4
percent of the participants said that they ‘did not do online shopping’, and
the teenagers who shop online spend less than 30 percent of their allowance on
online shopping.

The
report analyzed, "Chinese teenagers prefer independent shopping, away from
parental interference. They enjoy offline consumption that is instant and
independent rather than online consumption that makes products delivered to the
house where their parents live together.”

Lee
won-seok, the head of Chengdu branch, stressed, “In order to target the
Chinese young consumer market, it is necessary for Korean companies to build a
friendly and luxurious brand image focusing on daily consumed items such as
snacks and school supplies.”